Cipher Mining issues $172.5M 1.75% convertible senior notes due 2030, conversion price ~$4.45

Cipher Digital Inc.

Issued $172.5M aggregate principal of 1.75% Convertible Senior Notes due May 15, 2030.
Initial conversion rate 224.9213 shares per $1,000 principal, conversion price approx. $4.45/share.
Concurrent Delta Placement: sold 17.54M shares borrowed from third parties to facilitate hedging.
Notes are senior unsecured, redeemable at company option after May 22, 2028 under price conditions.
Interest payable semi-annually on May 15 and Nov 15, beginning Nov 15, 2025.

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